{"id":401367,"date":"2021-02-20T12:10:25","date_gmt":"2021-02-20T06:40:25","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=401367"},"modified":"2021-02-20T12:35:06","modified_gmt":"2021-02-20T07:05:06","slug":"indias-offer-to-cairn-in-1-4-bn-arbitration-battle-pay-half-the-dues-and-move-on","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indias-offer-to-cairn-in-1-4-bn-arbitration-battle-pay-half-the-dues-and-move-on\/","title":{"rendered":"India\u2019s offer to Cairn in $1.4-bn arbitration battle: \u2018Pay half the dues and move on\u2019"},"content":{"rendered":"<p>Discussions between finance ministry officials and Cairn Energy CEO Simon Thomson \u2013 and his team \u2013 continued for the second day on Friday, but it appears the government wants Cairn to settle the dispute using the Vivad se Vishwas scheme; under the scheme, the company will have to pay around half the amount due sans interest and penalties in cases where the tax department has lost a case in a forum and filed an appeal, as the instant one.<\/p>\n<p>Simultaneously, the government has also decided that it will challenge the arbitration award.<\/p>\n<p>While Cairn has filed a case in a US court to enforce the $1.4-billion arbitration award ($1.2 billion plus interest and penalties) that it has just won and this can, eventually, even lead to Indian assets \u2013 properties of Indian embassies, even possibly Air India\u2019s planes \u2013 being attached, finance ministry sources feel that this is not going to be easy either and can be a long-drawn process. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discussions between finance ministry officials and Cairn Energy CEO Simon Thomson \u2013 and his team \u2013 continued for the second day on Friday, but it appears the government wants Cairn to settle the dispute using the Vivad se Vishwas scheme; under the scheme, the company will have to pay around half the amount due sans interest and penalties in cases where the tax department has lost a case in a forum and filed an appeal, as the instant one. Simultaneously, the government has also decided that it will challenge the arbitration award. While Cairn has filed a case in a [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-401367","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=401367"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401367\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=401367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=401367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=401367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}